COVID 19: Key support measures for businesses dated March 21, 2020
lunedì 23-03-2020
- Creation of a 300 MTD support fund for SMEs.
- Postponement to the end of May 2020 of corporate tax returns (previous deadline March 25), except for companies subject to the wealth tax at the rate of 35%.
- Suspend all tax audit operations and appeal deadlines until the end of May 2020.
- Reduction of deadlines for refunding tax credits to a maximum of one month.
- Exemption of customs penalties established before March 20, 2020, with payment of duties and taxes due and a fixed penalty of 10%.
Measures for totally exporting companies:
- Possibility for companies operating in the food industry and health sector to sell on the local market up to 100% of their production during the year 2020.
- For the other exporting companies in the other activity sectors, increase of the quota from 30 to 50% during the year 2020.
Measures for most affected companies:
- Creation of a committee, within the Presidency of the government, dedicated to monitoring the companies most affected by the crisis with the possibility of rescheduling the tax debts of these companies over a period of up to 7 years.
- Suspension for these companies of the application of late payment penalties for a period of 3 months from April 1, 2020.